are you ready for retirement

I am in my late 30's and find that I am thinking about our future
Will we be able to count on our children?

Just wanted to ask you ladies
are you saving for retirement?
if you are how old were you when you started?
when do you think is the best age to start?
and what type of savings are you doing and how?

any suggestions ?

dear gurmeet,

There is already a thread on this started recently."is your future secured".

My father used to tell, our first expense from the salary should be savings.So there is no age for saving.
So i feel, when we enter into employment, we should start our savings.

Originally Posted by gurmeet

I am in my late 30's and find that I am thinking about our future
Will we be able to count on our children?

Just wanted to ask you ladies
are you saving for retirement?
if you are how old were you when you started?
when do you think is the best age to start?
and what type of savings are you doing and how?

any suggestions ?

Hi Gurmeet,

A very valid question! And my answer to ur first question is, do not count on ur kids taking care of u. If they do in future, count it as ur blessing! Let that not be a reason not to save!

I also have a 12 yr. old. We are doing our vry best, and instilling the right values. He sees how well we treat our parents, and how we take care of them. Yet, I do not bother to think whether he will be our support during our old age. Times are changing, and our future is not guaranteed, so we have been saving since we could! If the kids do take care or are there for us during our retirement, that will be a bonus, but NO, I AM NOT BANKING ON THAT!

We started saving since we got married (15 yrs.). The initial savings went towards the construction of our house. So now we have a roof over our head. Then hubby decided to go for higher edu., so whateever we saved went into his Masters. Now its 1.5 yrs. since he is working, and now we are saving towards our retirement! Son is in Grade. 7, so another 5 yrs. before he finishes school and joins University. So we have to maximize on our savings in the next 5 yrs., coz once he gets into University, all our savings will go towards his education! Keeping our fingers crossed and hoping that this time we are indeed saving for our retirement!!!

We are 40, and its like we have just begun life!
Our main saving is FD's, and a little in Stocks and Shares.

Never too late to start, so begin as of today!